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Claiming Retirement Relief

  • 04-07-2018 12:59pm
    #1
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭


    Does a claim for retirement relief need to be in writing for it to be accepted by Revenue?

    If an individual disposed of goodwill in a partnership in say, 2012, and claimed retirement relief (with no resulting CGT) but did not report the disposal in their Form 11, could Revenue have a basis for challenging it?

    Cheers,
    Hcksaw.


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    HcksawJimDuggan wrote: »
    Does a claim for retirement relief need to be in writing for it to be accepted by Revenue?

    If an individual disposed of goodwill in a partnership in say, 2012, and claimed retirement relief (with no resulting CGT) but did not report the disposal in their Form 11, could Revenue have a basis for challenging it?

    Cheers,
    Hcksaw.

    No ground for challenging it on the basis of it not being claimed, but in the absence of either the disposal or relief being included on a return the 4-year time limit doesn't apply and it remains open to enquiry indefinitely ...


  • #3
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭HcksawJimDuggan


    Thanks for the quick response.

    So I am assuming the best option would be to amend the 2015 form 11 to reflect the disposal?


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